This is one of the few underwater housing for lumix cameras and fits to tz2 and tz3 only. The construction looks really tough and strong but this is my first underwater housing so I cannot compare it to other housings. Until now I used it for 4 dives and I should confirm it is water proof :) , I was satisfied. But once I left the camera under sunligth for 15 minutes before a dive and when I get into the cold water, I noticed the fog formation on the inner surface of the housing. But this was completely my fault and in the manual this was mentioned as a "not to do". After 15 minutes it was over. The camera TZ3 itself is a very good choice for amateur underwater photography since it has:

-10x zoom
-wide screen
-image stabilization

And this housing is a must to benefit from these attributes.

This is a good / solid product for casing the Panasonic camera for underwater filmography. However, at more than $250, it is too expensive. You can buy a similar product for Sony camera for around $80 (not compatible with Panasonic camera.

So, if you really need it and willing to pay, you should buy it.

I've used this housing now several times. It allows crystal clear photos and movies underwater. No leakage. Easy to maintain control of camera. While in a pool, when I'm not using it, I just let it float around. I'm very impressed.

Easy to use. Fits camera perfectly-- you are able to see the LCD screen and adjust all camera settings while underwater. One thing I wish I had realized before our first dive was that the opaque white cap on front is removable. Whenever you want to use the flash underwater, you just pop it off (it has a string to keep it attached). I missed some good shots thinking that the flash was disabled on purpose by this white cap (but my error obviously). We used this while diving in Bahamas and Tahiti (as deep as 40feet) with no issues. I did not use the included weights, which helped it float when getting in and out of the water (and it wasn't a problem while underwater). As far as maintaining it-- a camera expert advised us to rinse the case with fresh water and dry after each use, then to store it in the "open" position (away from sand and dust) (so the O ring doesn't get worn, dirty or compressed.) I personally, would also recommend removing camera immediately after use as we noticed the camera was a little warm after extended periods of use (but again that was me taking pictures of every fish in the sea, after more than an hour of continuous photographs).